Matrixport: The rise momentum of Ethereum is weakening, and the subsequent market trend depends on the purchasing power of treasury companies and market narratives.

BlockBeats news, on August 27, Matrixport released the latest report on social media stating that the current market focus continues to gather around Ethereum and Ethereum treasury concept companies. The upward trend of Ethereum has not been broken, and it has received support at the moving average line, with significant effectiveness from the buy the dips strategy in mid-August. Analyst Markus Thielen stated, however, that the upward momentum of Ethereum is weakening, and it is expected to fluctuate in the range of $4,355 to $4,958, and is likely to dip again to the $4,355 support. The subsequent trend largely depends on the fundraising capabilities of Ethereum treasury concept companies and the market narrative they convey. This remains the core storyline of the crypto market - respecting technical analysis, which may become the dividing line between profits and losses.